EURUSD - Trends, Forecasts and Implications (Part 3) - page 608
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Margaret, what about Japan's rate, sort of tomorrow too, but I guess they won't raise it?
76.4 I agree, but there is a move up to the border of the channel
Monthly trend is broken, up 1.4450 from there the correction (rebound from the daily trend) 1.4250 and as an unlikely scenario a correction to 1.40. (when still said in the range of 1.40 - 1.50 while it will get used to it then 1.6)
If we build channels, then we build highs when prices are going down and lows when they are going up.
The last low was a divergence, which means that the new volume strength will reach the opposite side of the channel, and your way of building channels does not always work, in principle, neither does mine.
tonight is the most important data of the year )))
Monthly trend is broken, up 1.4450 from there a correction (rebound from the daily trend) 1.4250 and as an unlikely scenario a correction to 1.40. (when still said in the range of 1.40 - 1.50 while it will get used to it then 1.6)
may not have broken through yet, it bounced back somehow easily:
if from the 50% trend fan 1.1876 2010.06.07 03:00 - 1.4281 2010.11.04 14:00 bounces, then I will believe
maybe it has not broken through yet, it bounced back somehow easily:
if the 50% trend fan 1.1876 2010.06.07 03:00 - 1.4281 2010.11.04 14:00 bounces off, then I will believe
it went 50 pips up from the trend - it may be a breakthrough or it may bounce back down. (In general, a normal rebound is a 30 pips breakout - a test, but here it is 50 pips)
There was a divergence at the last low, which means that the new volume strength will reach the opposite side of the channel, and your way of building channels does not always work, in principle, neither does mine.
I don't have a channel in my construction, just resistance and support. And the way I described is a classic.
There are one-point trends (that's what I call them), so the second side of the channel is a one-point trend. We need channels.